How to Manage Transformation for Sustainable Advantage during Challenging Times
Rapidly changing customer demands is becoming a challenge for banks in Lebanon and is pushing them to innovate at a faster pace, they are looking to cater to the needs of their customer with tailor-made products and at the same time reducing the cost.
The growth of financial industry in Lebanon is at a moderate speed, the branches still play a vital role when it comes to customer dealing mediums. Few banks in the region are collaborating with non-banking players to keep up with the ever changing dynamic of the consumer demands.
The slowly evolving market is raising the risk for the financial services providers and the banks need to transform in order to remain relevant to the customers and their needs. They need to reach their customers more effectively and cost efficiently, ingrain more automation internally, and offer digital financial services propositions which are comparable to what are being offered by large consumer technology companies or Bigtechs.
Efma’s fourth edition of annual Retail Banking Summit in Lebanon will provide a forum for banks where they can learn from leaders in digital finance and discuss the ways in which they can effectively catering to the customer needs both individually as a bank as well as collectively as an industry.
• How to use data analytics and new ways of looking at the big data for underwriting and cross selling opportunities?
• How to create a payments eco-system hospitable for cashless society?
• What are the key ingredients of end-to-end digital onboarding process and what needs to be done to achieve it?
• How to create eco-systems of the future in partnership with new players and Fintechs?
• What will be the role of branch in the future and how to remodel physical distribution to win market share as well as hearts of customers?
• How to build a digital future around customer needs?